5 Key legal checklists before buying a property

Home is a lifetime investment. As a common man, you would certainly have no comprehensive knowledge on real estate laws. However, it is imperative to have basic due diligence before buying a property to safeguard your hard-earned money. 

Be it affordable 2/3 BHK flats, luxurious apartments or bungalows in Ahmedabad, Property buying has many high stakes. If anything goes wrong, you are likely to suffer the consequences with serious legal troubles. You must pay close attention to details and examine every aspect that primarily includes verification of documents and information pertaining to property.

In this blog, we are going to talk about certain coherent points, buyers must take into account while looking for a house or any kind of residential or commercial property in Ahmedabad.

Title verification and Ownership of the seller

It has to be closely scrutinized to determine the authenticity of the builder. You need to check the valid proof of ownership, the nature of the title along with other legal documents.

If you have the slightest doubt, do ask for a copy of the title and find out the nature of the title. For example, whether it is leasehold, freehold or development right. 

In a nutshell, the seller must be able to produce a clear and marketable title with no impediment.  Also check for KHATA registered in the name of the builder and all documents must be duly stamped and registered at the registrar’s office.

The identity of the builder

This is a similar process. You must also verify the identity of the builder along with the property verification. This is the most important verification. With increasing cases of frauds in the real estate market in Ahmedabad, you must ascertain the identity of the builder as follow:

The nationality of the seller

The consent from government authorities to require for the sale. In case of the joint ownership, the identity of all owners must be verified individually

The nature of the real estate company – sole, partnership, trust etc. You are supposed to check the legality by asking the valid documentation approved by the government that works as a valid proof of the existence.

Construction approvals

Real estate in Ahmedabad is booming. With increasing urbanization, there are many real estate companies in the market and the competition is intense. You have to make sure that the land and the property is sanctioned by the municipality and approved by government as well. 

There have been several fraud cases where buyers have been cheated. Please ensure that it is not an agricultural land. There is a strict set of laws that real estate companies need to pass to be able to get the approval. You have to verify that it has got clearance from all the regulatory authorities for facilities like water, sewage, electricity, fire safety etc.

RERA

It is the compliance under the real estate (Regulation and Development) act, 2016. Basically, this act makes it mandatory to register every real estate project under the ambit of RERA. It actually validates the authenticity of the builder and the house you want to buy. 

We advise you to visit the RERA website to verify upcoming residential projects in Ahmedabad. It gives you all details with transparency. You can find all real estate projects that have complaints or legal suits against them.

The entire purpose of RERA is to save you from any fraud and give credibility to buyer. All sellers have to comply with RERA guidelines, hence making it the most obvious check in your buying process. 

It is a big investment and it must bring a sense of security before you sign a deal. You essentially need to have a holistic approach and consider all aspects equally. Hope it helps you to make an informed decision.  Our all projects are RERA registered. 

More than construction, the real estate business is about trust. Today, Manthan group is one of the top leading real estate developers in Ahmedabad because we are synonymous with trust. We value your money and don’t let you down with your lifetime investment.

If you are looking for new residential or commercial projects in Ahmedabad at best price, get in touch with us on (xxx-xxx-xxxx) or simply email us at info@manthangroup.in